Use the work sheet prepared in Application Problem 13-1.

Instructions:

1. Journalize the adjusting entries. Use page 13 of a general journal.

2. Journalize the closing entries. Use page 14 of a general journal.

3. Journalize the reversing entries. Use page 15 of a general journal. Use January 1 of the year following the current year as the date.

Data from Application Problem 13-1.

General ledger account titles and balances for Trexler, Inc., are recorded on a work sheet in the Working Papers accompanying this textbook. Complete the work sheet for the current year ended December 31. Record the adjustments on the work sheet using the following information.

Transcribed Image Text:

Adjustment Information, December 31 Accrued Interest Income Uncollectible Accounts Expense (estimated as 1.0% of sales on account) $ 160.17 126,405.00 Sales on Account for Year Merchandise Inventory Sales Supplies Inventory Administrative Supplies Inventory Value of Prepaid Insurance 51,450.23 1,202.70 959.85 1,436.58 Prepaid Interest 1.85 Annual Depreciation Expense-Store Equipment 1,294.57 Annual Depreciation Expense-Building 2,900.00 Annual Depreciation Expense-Office Equipment 3,018.64 Organization Expense 50.00 Accrued Interest Expense 4,002.57 Accrued Salaries-Sales 153.97 Accrued Salaries-Administrative 593.49 Accrued Payroll Taxes-Social Security Tax 48.59 Accrued Payroll Taxes-Medicare 11.21 Accrued Payroll Taxes-Federal Unemployment Tax 1.72 Accrued Payroll Taxes-State Unemployment Tax 11.61 Federal income taxes are based on the tax rate table in this chapter.